Forex Analysis: GBPUSD Classic Technical Report 11.09.2012

Prices broke back below the 1.60 figure to expose the 38.2% Fibonacci retracement at 1.5911. A push below that targets rising trend line support at 1.5850 and the 1.5769-88 area. Alternatively, a reversal back above 1.60 aims for a falling trend line set from mid-September, now at 1.6112.